Durable Goods Orders See Biggest Rise in 16 Months

Durable goods orders rose 1.9% April, the largest gain in more than a year, the Commerce Department said Thursday.

The biggest increase since December 2007 followed a revised 2.1% decline March that was more than twice as big a drop as originally reported.

Economists had predicted a 0.5% gain, Bloomberg reported.

Excluding transportation orders, bookings for goods meant to last several years rose 0.8%, more than the 0.3% drop forecast by economists, Bloomberg said.

Transportation orders rose 5.4%, led by automakers.

Durable goods include large items such as refrigerators and air conditioners. Trucking is a major beneficiary of durable goods manufacturing, hauling both components and finished goods.